By Bob Katzen

The Senate 38-0, approved an amendment to a rule that would prohibit legislators from purchasing, directly or indirectly, the stock or other securities of any corporation or association, knowing that there is pending before the Legislature any measure specially “granting the corporation or association any immunity, exemption, privilege or benefit or any measure providing for the creation of, or directly affecting any, contractual relations between the corporation or association and the state.”

The amendment would expand the ban to include any immediate family member of a legislator.

“Public service needs to be as far removed from unfair financial incentives and advantages as possible,” said amendment sponsor Sen. John Keenan (D-Quincy). “The commonwealth already prohibits legislators from buying stock based on the information they learn through their work at the Statehouse, but this amendment, which the Senate adopted on a unanimous roll call vote, will also prohibit legislators using this information to sell stock and will restrict their family members from making similar financial transactions based on knowledge legislators have gained as a result of their positions.”

(A “Yes” vote is for the amendment expanding the ban to apply to immediate family members.)

Sen. Patricia Jehlen Yes